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Top 10 highest paying careers in Msia

March 14, 2014

Here are the top 10 highest paying Malaysian jobs in 2014; some of them may surprise you and some of them are only to be expected.

FEATURE

By Caitlyn Ng

Growing up, one will always have such lofty dreams and ambitions, some of which will involve “making it big” in the corporate world (think tailored suits and powerful deals) or on the big stage with the spotlight and all the attention focused on one. Others will be wanting to save lives, both in the medical profession and the public services profession. No matter what those dreams and ambitions may be, there are no rights and no wrongs, only whether they have been achieved or changed along the way.

Fresh graduates will be thinking of the salaries they can command in their respective fields, it’s an aspect that many will consider before taking up the degree that will ultimately lead to their dreams / ambitions. SaveMoney.my delves into the topic of the top 10 highest paying Malaysian jobs in 2014; some of them may surprise you and some of them are only to be expected.

These findings are taken from JobStreet.com who used their “salary matching feature” in order to conduct a study to find out average salary for each sector.

10) IT – Software (~ RM2,452/month)
What is IT? Apart from it being the acronym for “information technology” (any child can tell you that now, such is the hold that technology has over people nowadays!), it can be divided into two main categories: software and hardware. The former is referring to the programs within a computer, regardless of their architecture, and it has a non-tangible nature. Engineers who are tasked to maintain the software have to ensure that the programs installed are able to run the computer systems or hardware.

The nature of this job may sometimes cause the engineers to have odd working hours as the programs may crash at any time of the day, hence jeopardising business.

9) Sales – Corporate (~ RM2,456/month)
Don’t misunderstand, this job is very dissimilar to the normal salespeople who accost you and pitch their talk for all sorts of things by the sidewalks or in eateries. The word “corporate” should already be a give-away; this position requires one to be able to close large orders or sales between their company and another, all while maintaining close business ties and safeguarding relationships. For example, if Fuji Xerox were to sign a deal with Mercedes in order to provide all their offices with printers nationwide.

The amount of money that is transacted between these two large companies and the significant amount of profit earned would therefore ensure that the salespeople in Fuji Xerox will be working very hard in order to maintain their relationships with Mercedes in order to secure them for any future transactions.

8) Actuarial Science (~ RM2,475/month)
Now this is an interesting position to be working in, as it involves the application of “mathematical and statistical methods to assess risk in insurance, finance and other industries and professions”. Putting it simply, it means that an actuarial scientist is required to be fully qualified to perform a whole lot of calculations that actually includes a range of other subjects such as financial economics, probability and statistics. This is in order to estimate future contingent events for long-term insurance coverage that requires the knowledge to discount the value of funds set aside and invested.

These long term coverage required that money be set aside to pay future benefits, such as annuity and death benefits many years into the future.

7) Aviation (~ RM2,533/month)
This field was once the writer’s dream job, believe it or not. Given the chance to pilot a plane into the clear blue skies, free as a bird, and watch the earth fall away behind. But we aren’t here to reminisce about dreams gone by! Aviation is best defined as “design, development, production, operation, and use of aircraft”, and the word was first created in 1873 by a French writer and former naval officer, Gabriel La Landelle. In our previous article, Top 5 Highest Paying Jobs, a pilot is able to command a respectable salary that puts it on the number one spot with all the risks that they have to bear when in charge of an aircraft.

The people who are responsible for building and maintaining a solid and safe carrier, whether civil or otherwise, are also responsible in bearing the risks. Hence, it isn’t hard to see why this field makes this list.

6) Geophysics (~ RM2,600/month)
There are two ways to look at this field. One is through the olden-day definition where it is only concerning the geological applications: Earth’s gravity pull and its internal structure, amongst others. However, modern-day definition now takes into consideration the hydrological cycle (oceans and ice) as well as the factors that associate with other planets in the solar system. Sounds complicated? It sure is!

Not only does this field include people who study about all of the aforementioned elements, such as those who spend most of their time outdoors studying various features of the Earth or use computers for modelling and calculations, it can also involve people who are working in the oil and gas industries as they try to tackle the complex energy challenges faced by today’s modern world.

5) Sales – Engineering / IT (~ RM2,612/month)
Once again, this field is far removed from the individualistic sales that depend on consumer-type sales methods; instead, it relies more on the salesperson having in-depth technical information and problem solving skills about the product or service. This is so that he or she will be able to provide advice and support (in terms of pre-sales and post-sales support). Not everyone is tech-savvy who will be able to understand the technical language that inevitably comes in this field, so one will need the patience and the ability to translate it for non-technical people.

A keen interest in all things engineering and IT will also be beneficial as the IT industry is expanding worldwide whereas the sales engineer will need to tailor solutions as they need to interact with customers having problems with equipment or are seeking a quick fix.

4) Doctor (~ RM2,719/month)
Here, we have the one job position that many, if not all, parents secretly hope their children will take an interest in. Not only is it a noble profession that garners a lot of respect where one will be able to serve others and save lives, but the job itself also pays considerably well. Generally, these people can also be known as physicians or medical practitioners, and they “promote, maintain, and restore health through studying, diagnosing, and treating illnesses, injuries, and other physical ailments”.

Since there is a need for most of the doctors to be at work for irregular, and sometimes very long, hours due to the need for them to be on standby (for emergency cases), they are able to command a higher pay as their years of experience increase. In addition, doctors are able to branch out into various fields of speciality, such as for the brain, blood, female reproduction or children.

3) Sales – Financial Services (~ RM3,054/month)
Financial services actually encompass a broad range of organizations that manage money but it can best be described as the intangible economic services that are provided by the finance industry. The individuals who work in this industry are the ones who are qualified to “sell securities to individuals (such as life insurance or retirement income), advise companies in search of investors, and conduct trades.” This is in addition to the basic sales skills of managing consumer behaviours and maintaining relationships.

Some of the primary responsibilities that are tasked to these financial salespeople would be to determine the financial needs of clients as well as the areas of improvement in order to assist them in achieving financial security.

2) Corporate Strategy (~ RM3,200/month)
Concerning the need for companies to create value across different businesses, this field requires its strategists to understand the way that the operations of a corporation harmonise together to achieve its goals as well as its overall scope and direction. You will be required to know how to respond to pressures from competitors as well as external issues that involve the needs of customers. This is called strategic planning for the company in order to position the company towards its chosen approaches.

In short, one can actually say that it is all about “specifying the organizations objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans”.

1) Pharmacy (~ RM3,640/month)
Finally (but not least), we have the top field that a fresh graduate will be able to rake in the big bucks with: pharmacy. What immediately pops into your head as you read that word? The person in the oversized white lab coat who stands at the back of places like Guardian or Watson’s? That’s quite correct, yes, but did you also know that in this field, a pharmacist is able to work in different sectors such as in the nuclear pharmacy, which involves “preparing radioactive materials for diagnostic tests and for treating certain diseases, thereby requiring additional training specific to handling radioactive materials”.

However, to put it simply, it is essentially a science that requires precise techniques to prepare as well as dispense drugs and medications. The primary aim for pharmacists is to ensure the safe and effective use of pharmaceutical drugs.

Top 10 Highest Paying Careers

Now that you are armed with a rough idea of how much these positions are likely to be paying out for fresh graduates with newly minted degrees, SaveMoney.my wishes all of you the best of luck in going out there and conquering the job market!

Job Title

Average Salary per Month

Pharmacy

RM3,640

Corporate Strategy

RM3,200

Sales – Financial Services

RM3,054

Doctor

RM2,719

Sales – Engineering / IT

RM2,612

Geophysics

RM2,600

Aviation

RM2,533

Actuarial Science

RM2,475

Sales – Corporate

RM2,456

IT – Software

RM2,452

Caitlyn Ng is an Investigative Journalist ofSaveMoney.my, an online consumer advice portal which aims to help Malaysians save money through smart (and most of the time painless) savings in their daily banking, technology, and lifestyle spending habits.

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